I usually good something at home. I don't like the over crowded restaurants, hurried wait staff, and so-so food that usually occurs on Valentine's Day.
I'll often fix lobster or something simple along these lines.
My hubby does the cooking in our house, so he would probably choose 1. I get a bit flustered in front of the stove, so I choose 2, although I have been known to make a nice meal on occasion.